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spending in the future than was riginally projected. >> because they were projecting a deficit of 4% of g.d.p., how much does the health care calculations factor into that differential? >> the biggest difference is policy. you just quoted the c.b.o. number which assumes no policy. the president's policies would reduce the deficit by 1.8% of g.d.p. in the last year of the budget window. as a result obviously the deficit's a lot better with deficit reduction, which is what we are showing in our budget, than if you didn't have deficit reduction. which is what a budget baseline would show. there's some other technical differences between our outdear forecasts. they are mostly on the revenue ide not spending side. >> this is for anyone. do any of the participants know tax revisions vare frye from current law apart from the -- >> obviously we have a set of proposals in there, so one of he places where -- that's in our a -- assumed in our budget is that in the 2010 and 2012 budgets the president extended his increases for the refundibility in the child tax credit. the increases in the earned inc
's fiscal outlook. we have cut the deficit in half as a share of the economy, experiencing the fastest fury of deficit reduction since the demobilization of world war ii. the budget continues this progress. bringing deficits down to a share of the economy to 2% by 2023 and putting the debt on a declining path. we've seen a notable and significant decline in health care spending growth over the last few years, in part due to the affordable care act, we know that over the long run, the growth of the health care costs continues to be our nation's most pressing fiscal challenge. that is why the budget builds on the savings and reforms to health reform law with additional measures to strengthen medicare and medicaid and encourage high-quality and efficient health care. we also know that revenue has to be a part of the solution to our nation's long-term fiscal challenges. given the aging of our population and the declining ratio of workers to retirees, we will need additional revenue to maintain our commitment to seniors, while also making the investments that are needed to grow our economy and e
deficits and strengthens our long-term fiscal outlook. through additional health care reforms, tax reform and by fixing our broken immigration system. we recognize the importance of the bipartisan funding compromise reached by the congress and the budget shows the president's funding priorities at the 2015 spending levels that were agreed to in the deal. however, we believe those are not sufficient, both in 2015 and beyond, and to ensure the nation is achieving its fullest potential. for that reason, the budget includes an opportunity, growth and security initiative that is fully paid for. it's split evenly between defense and nondefense and it presents additional investments in things like education, research and manufacturing. building on the model established in ryan-murray, the initial tiff is fully paid for with a balance package of spending cuts and tax reforms, so it is deficit neutral. supporting what the president said in the state of the union, the budget includes a series of measures to create jobs and accelerate growth in the economy. for example, as the mdafferings announced
opportunity for americans. at a time when our deficit has been cut in half, it enables us to meet our obligations to future generations without a mountain of debt. this adheres to the spending principles members of both houses and both parties agreed to. it also builds on that progress with what we are calling an opportunity, growth, and security initiative, that invests in our economic opportunities in a way that is paid for by making smart spending cuts and closing tax loopholes that right now only benefit the well-off and well-connected. i will give you an example. the tax system provides benefits to wealthy individuals who save, even after they have amassed multimillion dollar retirement accounts. by closing that loophole, we can help create jobs and grow the economy, and expand opportunity without adding a dime to the deficit. we know the country that wins the race for new technology will win the race for new jobs, so this creates 45 high-tech minute extra pounds where businesses and universities will partner to turn groundbreaking research into new industries and new jobs made i
convince the american people it would be different this time. >> i will. the worst budget deficit under george bush happened in his last term in office. that's when nancy pelosi was speaker of the house. budget ra $450 billion. president obama blew through those deficits. he had in excess of trillion dollar deficits year after year. what the republicans were able to do in the house is not continue that level of trajectory. has spending gone up? it absolutely has. but the level has slowed down and -- >> i get the feeling, congresswoman, maybe not you in particular, a lot of your party are giving up the fight and keeping the powder dry and hoping at the end of the year pick up more seats in the house and maybe take the senate and you bet you that will be the time when republicans get serious. but is that a lot to hang your hat on? >> well, what we need to hang our hat on is boosting the labor force participation rate. we're at the lowest level ever for anyone over age 16 actually having a job in the labor force and in a full-time capacity. that has to change. and unfortunately the preside
are going to make up anymore of this deficit, it is going to happen in the next four weeks. i am happy to report it will keep happening. the rim of high pressure is now way down -- ridge of high pressure is now way down south. i had to zoom the map out to show places in california. the high pressure has gone on spring break. allows storms to ride up over top of the ridge of high pressure right into northern california. the ridge is no long raploching the rhode island it is actually giving it -- longer blocking the rain. rain overnight. rain will be done by the drive you drive back to work tomorrow. staying unsettled. another low pressure area with the same storm track on thursday. another one coming up over the weekend. san rafael 66. fremont 64. mountain view 66 degrees tomorrow. check out the highs. they will be close to 70 even with cloudy conditions. another round of rain on thursday. the two nicest days to ghettoed will be friday and saturday up into the low 70ed with sunshine. for the second half of the weekend, here comes the third wave of rainfall with highs in the upper 60s. n
deficit has been cut in half. it allows us to meet our obligations to future generations. from the heard president, deficit picture is looking better. much so that levels will be below where they were before the budget crisis. >> how do republicans react to away from the emphasis on deficit reduction act out >? >> john baeder came out and said that this was the most irresponsible budget yet of the obama has proposed. the president laster put out an all french to republicans and said he was willing to make changes to social security, medicare and other entitlement programs. those are all gone this year. for republicans to look at these budgets in the lines of what the established last year in terms of topline numbers under the agreement, this budget is something that will not move in the house of republicans. are viewed asts more of political documents as opposed to policy proposals. >> that really is right. especially this year. yep midterms coming up in november. the white house wanted to lay out policy priorities going forward to follow through on over the next eight months. the presid
speaker john boehner, and if you look at the deficit, it's been cut by more than half in 2009, the fastest deficit decline over a sustained period since world war ii, so would you acknowledge some progress is being made? >> yeah, i think it's a great point. if you look at the numbers, looks like quite a bit of progress has been made and the deficit has come down very quickly. that, of course, comes after a large rampup in the deficit where it grew by 800% before those four years, and i think more troubling is if you look at the nation's debt, where our debt levels are twice as large as they've been historically and are at historic highs and that's where the trouble is. while we've done a lot of deficit reduction, we've done it in the wrong way. we've focused on, i think, inadvertently through congress not being able to pick our policies on short-term measures that came out of the budget, which isn't where the problem is. what we should be doing is trying to replace those savings that came from the sequester that aren't as useful or long-term with more permanent and structural changes to en
issue right now, deficit, debt, from the ministrations point of view, it is not something are focusing on right now. >> take you for setting the scene. -- thank you for setting the scene. york, our guest host, we have the chart of earlier. it is a massive victory lap. can we get back to a surplus? can we get back to that surplus? >> that is certainly not on the near-term horizon. what is important to note, three years ago the deficit was 10% of tdp and this year, 3%. it wasn't pretty. it didn't look like the civics textbooks, but we have a lot of deficit reduction. we had the ryan murphy agreement. it basically takes fiscal policy off the table for the next two years. barring a dramatic or election outcome in november, the administration will be status quo for 2017. >> are you willing to say austerity in the u.s. worked while austerity in europe did not work question mark -- work? able to register economic growth. it has been sluggish. europe has not been able to pull it off and a big impact of the fed he been the economy supported. >> the former fed governor, wonderful textbook, i don
with opportunity for all americans. at a time when the deficit is cut in half this allows us to meet our obligations to future generations without leaving them a mountain of debt. to the balance in congress but it also builds up on that progress with what we are calling an opportunity, growth and security initiative, that invests in our economic priorities in a smart way that is paid for with smart spending cuts and closing tax loopholes that right now only benefit the well-off and the well-connected. i will give you an example. right now the tax system provides benefits to wealthy individuals who save after they have amassed multimillion dollar retirement accounts. by closing that loophole we can help create jobs and grow the economy, and expand opportunity without adding a dime to the deficit. we know that the country that wins the race for new technologies will win new jobs so this creates 45 high-tech manufacturing hubs where universities and businesses will work for groundbreaking technology for new jobs in america. part of the reason we're here today is because education has to sta
when our deficit's been cut in half, it allows us to meet our obligations to future generations without leaving them a mountain of debt. >> woodruff: the 2015 deficit would decline, to $560 billion, but republicans today said the red ink, spending hikes and tax increases mean the plan is dead on arrival. senate minority leader mitch mcconnell. >> rather than put together a constructive blueprint the two parties could use as a jumping off point, to get our economy moving and our fiscal house in order, the president has once again opted for the political stunt for a budget that's more about firing up the base in an election year than about solving the nation's biggest and most persistent long-term challenges >> woodruff: congressman paul ryan, the house budget chair, likewise called the obama plan a disappointment. in a statement, he said: >> woodruff: ryan offered an extensive critique yesterday of federal anti-poverty efforts. he's expected to release a republican budget proposal in the coming weeks. >> woodruff: some of the more notable pieces of the president's proposal, and expected
terrible five years ago, but we can have a deficit, which creates more debt but not at a rate that grows faster than gdp grows. the trend is wrong. there is a danger if that goes on, although a lot of countries have gone far beyond. i don't like to see it go up as a percentage. this country is in wounderful shape. >> finally, looking at the stock market today, there are people nervous about what happens with the situation in ukraine. you would tell them? >> i would tell them it doesn't change anything. if you have a wonderful business of your own in illinois, why would you sell it today because of what is happening in the ukraine? if you have a farm producing, an apartment house that's fully occupied, why would you sell it today because of the ukraine? that's the same if you have a piece of a wonderful business or pieces of many wonderful businesses. people react to short-term things and react quite ra rationally. >> he checked out the price of a stock he had been buying in london last friday, if prices drop like we've been seeing, he says he'll just buy more. for "nightly business repor
is where we sit with our deficit with 10" more is where we need to be to be at normal for san francisco. we are 7" below in livermore. we are 6" below in san jose. today, with the dry conditions, we will look for mostly clouds. by tomorrow night, here comes the rain north bay and by on thursday and we will look at conditions, then, to improve the first half of the welcome, 67 in palo alto with morgan hill at 67 and the seven-day forecast shows a couple of dry days and the spring around the corner. >> in san jose, there was a fatal accident, a pedestrian hit-and-run accident north 280. it is off the freeway. the saratoga avenue exit is blocked so take the lawrence expressway to get around that. northbound spinout at vasco road that took out 60 feet of guardrail north bound direction sow find delays. we have flooding if lanes, lucky drive northbound direction of 101 but there is pooling southbound so be careful. san jose shows highway 87 beyond the sap center northbound and it is smooth sailing and light. >> thank you. muni's board is holding the first of two public hearings to consider fare
or attempted suicide in the past, you are not allowed to enter the military. attention deficit, a common disorder. conduct disorder, juvenile delinquency. they are not more suicidal prior to entering the military. and you might age a teenager who is a fearful kid is not going to be the type of person who will volunteer for the army. those who join the army are more confident, risk-takers, and less anxious than other people. the kinds of things that were there in abundance compared to the population to do with i want pulsesivetyimpulsivity, and ang. >> the rate of anger is five times higher among soldiers than civilians. is that a marker for pre-disposition down the road? >> well, it is. we don't think of anger being associated with suicide. we more typically think along the line of depression. but fact people who are angry at other people, who are aggressi aggressive, do have increased rates of being angry and violent towards themselves. they are higher suicide rates. perpetrators of violent crime has higher suicide rates than other people. >> amy, are families sometimes put in. terrible
of rain to catch up to the normal level for this point in the season. so it's a severe rainfall deficit still. again, these steady and frequent rains are helping. >> all right. the drought is not over. >> no. far from over. >> okay. thanks, very much. >>> still to come on abc 7 nudes at 9:00, an initial sight for skiers today. the details behind the slope-side rescue of a small bear cub. >>> and a look behind the iconic work of a rock and roll photographer. what he says is the secret behind his legendary shots. attention monster taco fans! get ready for a night of monster taco madness - when two new monster taco flavors from jack in the box face off. introducing - the bacon ranch monster taco, crushin' it with strips of bacon and creamy ranch versus the nacho monster taco, comin' hard with nacho cheese and jalapeños! monster, monster, monster tacos! too much? needs an explosion. [boy] mom!ughs] [mom] yes? [boy] whoa,whoa,whoa... [mom and dad] [laughing] [boy] whoa,whoa,whoa... [mom] you've got two left feet,boo. >>> the fortunate ones among white house find their bliss and turn it into
he is recommending for each show agency and the deficit projections for 10 years. they say it will be low work, but how to make at work. obama will not be including the chain cpi proposal. inflation is measured that would have the effect of lowering social security benefits and other federal benefits. the aarp andsed by liberals in congress. arguing itthat out, was a all a branch for republicans. not willing to do a big deal on the deficit in order to get things under control. by taking that out, they will lose 230 billion or so in deficit reduction. already we know one of the ways will be assuming the senate passes and immigration overall. go much does that cost you these are the kinds of things we will be looking for. perhaps the least effective budgets we have seen in years because congress are it has a toplines appropriations number for this year. they are are ready holding hearings. this is entitlement overhaul out of the midterm. how is the budget actually released today, and to are the surrogates that the white house is sending to capitol hill over the next coming da
not do nearly enough to tackle the entitlement program. thepoint has been made deficit has come down so much in the short term, and that is true but there was a fiscal problem facing the country. the real problem is the medium and long-term debt. the real problem is dealing with health care, aging population and health reforms. -- let mee ask about ask about the private deck with a tax break the industry has gotten for years. it sounds like both sides ones that do go away. does that mean it will? not think so. far from obvious that both sides want it to go away. speaking fellow republicans. many walked away from that as soon as it came out. carried interest belongs as part of a broader tax reform, but none actually tax it correctly. it withet serious about something with integrity it is just convenient, and that is no way to do tax policy. real,ld do some meaningful tax reform. really hurt his base if he takes on entitlement reform in a way that means cutting entitlements in the future. >> can i say something about that? >> was that my? -- mya? hurting his about base might be true polit
. at a time when our deficits are falling at the fastest rate in 60 years we have to decide if we're going to keep squeezing the middle class or reduce deficits responsibly while taking steps to grow the middle class. >> that was president obama outlining his $4 trillion budget for 2015 setting the stage for another budget fight. it calls for growing are the tax expansion. the president says he's paying for all of this by closing loopholes, one of which is wall street's favorite loophole which allows hedge fund managers to count their investments as income instead of capital gains. many think it faces a long road because of republicans in the house. to walk us through the budget battle, jimmy williams, an opinion writer for u.s. news.com and an msnbc contributor. how are you? >> how are you, hello. >> i want to start with one of the more important things which is that child care tax credit. this is big for people. when you look at the numbers from the white house, you're talking about well over 1.5 million people effected, $600 for a lot of folks with children under five years old. my view
/2 inches. we'll make up any more of this rainfall deficit and drought, it has to happen now. good news is, the atmosphere is perfectly set up for more raffle because that ridge of high pressure is blocking the -- rainfall because that ridge of high pressure is block being the rain from hitting mention -- blocking the rain from hitting mexico. we'll have showers overnight. next up is thursday, another low pressure area. it hits us, rainfall. after that the next low is sunday. it will hit us and we'll get rainfall again. it's just a matter of how many storms are out there because they're all heading in our direction. that ridge is gone. the rain will not be as heavy this week. we got it tonight. we'll get it thursday and again sunday. it will be mild and humid and cloudy the next several days. tomorrow we're dry, cloudy and humid, san francisco 62 degrees. we're dry, warm, humid again wednesday, upper 60s, rain on thursday. we get sunshine back friday and saturday, but here comes another rain chance on sunday. so this is a pattern i think everybody can like. like the rain, got a couple days
for the deficit. >> it is slow and go if some years with a great alternate with caltrain and ace train running on time. muni experienced some delays but those are all cheered. back to san bruno with an update a car was over the embankment and the sig-alert is there but the car has been towed and is long gone and people are coming off of 280 around the turn to the eastbound ramp and they are skidding out. slow down. those curbs are very slippery. to the santa cruz mountains southbound 17, we have a solo spinout in the slow rainsa6ç and san mateo bridge is looking good but the fog and rain so take your time. the tail lights are headed over to foster city. >> seven things to know before you go. >> the morning news is back in 60 >>> good morning at 6:54 and traffic is looking okay at macarthur maze. it is foggy and misty in some areas. be came. >> seven things to know before you go: one, breaking news on the peninsula, the c.h.p. is on the scene of a car over an embankment that plunged 50' over the hill. the tow truck driver is pulling it on the road at 280 at connection ramp to eastbound 380. >>
with good wages. at a time where deficit has been cut in half, it allows us to meet our obligations to future generations without leaving them a mountain of debt. >> republicans including john boehner called his budget the most irresponsible yet. they believe this is a campaign move that includes a whole host of issues that democrats like to campaign on on this midterm election year. this budget and the eyes of republicans and some democrats -- they are going to make some big changes. with the president has put the paper will change pretty quickly. >> thank you very much, peter cook. let's move on to media. the big story today was the entertainment network epix is joining the time warner cable family. it will be launched nationally on march 18. joining us to talk about this deal is the president and chief executive of epix, mark greenberg. also with us is jon erlichman. start usonder if you off by explaining what exactly this agreement means. has over 12er cable a half-million homes that they have access to. epix is a premium service similar to hbo or showtime or we have uncut, uned
opportunity for every american. at a time when our deficits are falling at the fastest rate in 60 years we have got to decide if we are going to keep squeezing the middle class or if we will continue to reduce the deficit responsibly while taking steps to grow and strengthen the middle class. the american people have made clear time and again which approach they prefer. that is the approach my budget offers and it's why i'm going to fight for it this year and the years to come as president. >> the new c-span.org web site gives you have says to an incredible library of political events with more added each day through c-span's nonstop coverage of national politics, history and nonfiction books. find c-span's daily coverage of official washingtwashingt on are accessed more than 200,000 hours of archived c-span video. everythineverythin g c-span has covered since 1987 and our video is all searchable and viewable on your desktop computer, tablet or smartphone. just look for the prominent search bar at the top of each page. the new c-span.org makes it easy to watch what's happening today in you
in somebody's life, it shows up there. >> yes, what we can see is there is a deficit in theiar in the ae middle frontal cortex of kids who have ptsd. >> brown: in the developing brain of a child, ptsd can discourage learning. >> so the issue we have with chronic stress, it manifests as a ptsd syndrome or disorder is that some of the areas that are affected are areas that we need for our learning. for example, brain centers that process memory, brain centers that process executive function are particularly vulnerable. so ptsd can have an effect in how children learn brown. >> brown: according to carrion, up to 30% of children who live in low-income, high poverty neighborhoods will show symptoms of p.t.s.d. for every child in our school who acts out, i can look to something in their life that's not working. every single time there's a concrete and sad story about why this child doesn't get what they need. >> bring your arms up, put your left leg around your knee. >> brown: by teaching children to pay close attention to breathing and movements, the medical student hopes they're better prepa
of this outrage is just going to dissipate because we have a -- attention deficit disorder. we will chase the next shiny thing next week. he will not go into crimea and we will consider it a diplomatic victory and he gets what he wants. >> can you refute anything he just said? >> i don't understand anything he just said. >> that's the problem with america. >> did you have a question? mitt romney was mocked when he said russia was our number one geo political foe? people said please, this guy is in the -- is stuck in the cold war and putin is our pal. the fact that he is turning out to be right will go over mitt romney critic heads. >> it is a shame. you claim to be ukrainian because you think it is interesting. are you worried? concerned? do you have relatives? >> i am fifth generation. my last name is the most ukrainian thing about me. if i do have family there, oh, man, it is terrible. it is terrible what is happening. we all just feel so hopeless. we want to help and have great advice, but at this point i feel it is a little too late. >> you sound like the white house. >> the point is -- you ju
. >> the other thing is how weak the ukrainian government is, they have been running deficits, they have almost no money in their treasury. so what do you need to be strong? you need a good economy, right? >> we solved it all. >> next, mitt romney and sarah palin warned years ago about what is happening in russia today. they were mocked by president obama and others on the whole left. we have the tape. >>> and later, stars, selfies, and slices at the academy awards last night. stay tuned for our thoughts on the big show on this big show. >>> so, sarah palin could see russia from her house, or rather putin's threats. she warned us in 2008 if barack obama wins, his indecision and moral equivalence may spur putin to invade ukraine. she was mocked for it because as you know, she talks funny and stuff. who could forget the debate that obama had a lame joke that poked fun at mitt for calling him a foe. >> russia is a geopolitical foe. excuse me, it's a geopolitical foe, and i said in the same paragraph, i said, and iran is the greatest national security threat we face. russia does continue to battle
when our deficit has been cut in half, it laos us to meet our obligation to future generations without leaving them a mountain of debt. >> budget also did he vote money for highways and roadways. >> republicans have a different view on spending priorities and debt. what are they saying? >> john boehner calling it perhaps the president's most irresponsible budget ever. paul ryan says it isn't a serious document, it is a campaign brochure. ryan is working on a budget of his own which is expected to take a look at poverty programs noting some work, others don't. as for the president's blueprint, the top republican on the senate budget committee blasted it. >> this budget will not work. it's bad for america. it does not get us off the debt course we're on. it has total flimflam in it, it projects we're going to raise another 1.75 trillion. the last two budgets proposed an increase of a trillion dollars in taxes. this would almost tunnel the amount of tax increase. >> republicans say the president's plan spends, borrows, and taxes too much, gretchen. >> thanks. >>> fox news alert, health an
spending and not deficit reduction. the top republican on the senate budget committee says he wants to know when the president is going to get serious. >> this budget will not work. it's bad for america. it does not get us off the debt course we're on. it has total flimflam in it. in that it projects that we're going to raise taxes another $1.75 trillion. >> house budget chairman paul ryan said the president's budget is not a serious document. it is a campaign brochure. and aides say the soon to be le balance. >> mike emanuel live on the hill, thank you. >>> still ahead, what is the ukraine crisis doing to the u.s. space program. >>> first, the primary season kicks off in texas. it's eb. want to give your family the very best in taste, freshness, and nutrition? it's eb. want to give them more vitamins, omega 3s, and less saturated fat? it's eb. eggland's best eggs. eb's. the only eggs that make better taste and better nutrition... easy. eggland's best eggs. better taste. better nutrition. better eggs. it's eb. better eggs. your hepatitis c.forget it's slow moving, you tell yourself. i have
about saving money all the time and being concerned with deficits and being totally driven by that but not being concerned in saving money when people are in jail for marijuana and mandatory minimums that judges have said were awful and for nonviolent first time offenders serving lifetime sentences in jail costing us $30,000 a year. >> comcast is running this ad in new jersey where medical marijuana is legal. >> yo, you want sushi? i got sushi. i got tuna, salmon, sweet shrimp. i got the finest this area has seen in years. >> you wouldn't buy your sushi from this guy so why would you buy your marijuana from him? >> did i mention that it's national pancake day. marijuana, pancakes, sushi. >>> benjamin netanyahu stirred up controversial and joining me to talk, comedian and "daily beast" columnist and friend of the show, dean ovadala. let's start with pot. marijuana has been huge this year and the pot jokes are a gold mine, i'm sure, for your profession as a political comedian. >> on some level it is but i think we've jumped the shark on pot. when pat robertson came out in fro
term on trying to boost job growth. over the ten-year window you will see steadily declining deficits. at the end the period i think you'll see a declining debt-to-gdp ratio. that's the right trajectory. >> yesterday we had warren buffett on the program. he said he thinks the proposal would be to boost the earned income tax credit even more, expand that in a bigger way. that's a way to boost wages for people that are working without looking at job losses by raising the minimum wage. how about offering it to a wider variety of people and taking the minimum wage proposal off the table? >> these things are not mutually exclusive. there's no reason you can't work at both ends here. >> is it something you would offer if you did a broad -- not what you're talking about right now, but boosting the income tax credit in a big way, offering it across the aisle as a way of finding compromise, in instead of looking at one from another. i think that would be something republicans would take on heartily. >> we're willing to consider any ideas republicans put on the table. the president is putting t
and deficit and entitlement reform and all of those things. this president likes his government super sized. this budget will never balance. and i think the president wants taxpayers to pay more so that washington can spend more >> what i read is he is asking for million in new spending. does that go anywhere? >> i don't think it does. last time he had a budget, not even any of the democrats voted for it. his policies make it harder to get back to work. >> $17.4 trillion is the debt clock. that is ridiculous. in three years from now, you will be $19 trillion? how is that acceptable to anybody? trying balance a book in washington, d.c. >> what we will see is the fastest growing part of the budget is interest on the debt. the president added $6.9 trillion in the debt. this continues to be a driving issue for the country. you know, we are not going to be able to sustain the safety net with this debt and interest. >> i think the viewers get it, too. what other republican options do we have? >> the options are to say let's deal with the issues we know get people back to work. we have a health ca
to go into deficit as well. russia is ofat to course oil prices. the government spends about 25% of gdp and to keep the budget in balance, capital economics needs 100 $10rice of about per barrel. they are able to get that just barely but as american fracking increases the amount of supply in the world, their chances of getting that are going down. a rush road ahead -- rough road at thisr the economy point. >> if it is such a rough road and all the weakness, why is he risking this? pretend to want to tell you what he is thinking, but maybe it is short-term here. compared to where the u.s. is. russia has a large amount of foreign exchange reserves. they can pay their bills for now even as the current account goes negative. resident who may be gambling if this lasts a short time, they could get in and get out without any further consequences, it is worth the risk. >> thank you. mike mckee. ofturn to another region uncertainty. president obama met with netanyahu at the white house yesterday. closelyries that work in the past and he looks cooked -- looks forward to working with the president
a dime to the deficit. >> the president also wants to expand the earned income tax credit for the working poor without children. his budget would also expand the child and dependent care tax credit and create automatic iras to help workers save for retirement but it's unlikely those plans will get through congress. he needs legislation to enact all of that and that does not look likely. >>> global markets are rebounding today as investors digest the situation in ukraine. even the dow jones flew out of the gate this morning. alison kosik is over at the new york stock exchange. how much have we bounced back today? >> quite a bit. what a difference a day makes. even the s&p 500 at a record high. the dow up 200 points, 205 points. all 30 stocks in the dow are in the green. very different story yesterday. it was a sea of red. we also saw that turn-around happening overseas, all the way -- there were those down arrows we saw yesterday in europe, asia, russia, they all turned up today. analysts say investors today aren't on red alert. it's not such a dire situation. i think when putin spoke and
to the deficit. >> house budget chairman paul ryan already come out swinging against the plan. yet another disappointment and added the president has three years left in his administration and seems determined to do nothing about our fiscal challenges. that's paul ryan. this budget isn't a serious document he says. will this budget proposal help flagging republican opinion of president obama's track record. we turn now to financeer and former treasury official and cnbc economic analyst steve radener. thank you for being here. >> thanks for having me. >> i wanted to start out with your gut reactions to this. is it the expanded credit for low income workers? >> this is a policy statement of what he believes should happen in the budget, more spending on things like the earned income tax credit which is today's headline but also things like infrastructure and pressing needs. he wanted to put out what he believes in and indeed what the democrats believe in in advance of mid-term elections. >> you have a background in private equity yourself and roll with a crowd of people most affected by the c
issue of our time, attention deficit disorder,
a lot of money, in part, due to the sequester, and it's led to lowering and lowering the deficit. if you put that in the context of what the budget proposal suggests, it's only a modest increase in spend, talking about 56 billion, like you mentioned, split between defense, nondefense, and it's paid for. we established that the budget agreed to by patty murray and paul ryan, those spending levels stay in place, and you'll use a few other tax hike is to par for $56 billion to relieve s sequestrati sequestration. we have a piece coming up that shows nih will be funded at 30.2 billion. that, in real term money, equivalent to the level that george w. bush funded nih in 2002. we're not making people whole. we're lagging pretty badly. but as if you were to look at what republicans are saying, this is the most reckless spending possible. >> sam, on that note, the president say, our budge it is about choices, about values and this is expected to go nowhere, it's a moral document in the most sort of clear fashion from the white house. at the same time, you know, the president puts this out there a
progress made. if we just take a year in review. so, a year in review, in terms of deficit reductions. when the budget came out last year, it was predicted $1.1 trillion. it was 680 in the end. about a $400 billion deficit reduction from 2012 to 2013. then, we have a situation where i think hopefully we've broken the fever on the issues of having conversations about default. >> money that's overseas. are there efforts to bring money overseas permanently back to the states? >> it depends on how one is talking about that. we want to create a system that is clear and that is helpful for our companies to know what they're doing, how they're doing. and not discourage investments from coming back and finances from coming back to the u.s. >> tell me about going from bettenville, arkansas, in the private sector, back to the government. >> walmart is an institution of execution. that is what it is certainly known for. and fortunate to spend time and to be there. coming back to the federal government, certainly, as you reflected, one has to work and work on both sides of the aisle. i go up and down t
small needles to thread for the trusted deficits. president obama has demonstrated and wants to be a partner for peace. he is committed to trying to end the conflict and all of his claims. how he can do that? let's be candid. some of you doubt it. as it israelis security officials will a test, -- attest, abbas has been against the violence. i have also spent many hours with president abbas. i believe he clearly understands both the tremendous benefit of peace and the great costs of failure. he understands that in terms of his own people, his own grandchildren, the country he hopes to be able to lead, and in terms of the history that be leakers -- beleaguers all. he know the people what never have the self-determination without ending the conflict in a solution that delivers two states for two peoples. and so this prime minister netanyahu when he looks me in the eye and said i cannot accept a deal with the palestinians that does not make the people of israel safer. we agree 100%. [applause] but i argue, there is a distinction between a unilateral withdrawal from lebanon where
a pressure has faded to launch bold, new attacks on federal deficits. the president's fiscal blueprint expected to include proposals to upgrade aging highways and railroads, finance more prekindergarten programs and enhanced job training. the white house said it would also enlarge the current income tax credit to cover 13.5 million low aren't workers without children, expand the childcare tax credit for some parents, and make it easier for workers to contribute to individual retirement accounts. >> president obama will talk about his budget proposal to an elementary school here in washington, d.c. we'll bring you his remarks live at 11:30 eastern on our companion network c-span and we invite you to weigh in on your thoughts on the president's proposal at facebook and twitter using #cspanchat. later the white house budget office will hold a briefing with budget director sylvia mathews burwell and policy advisers. live at 12:45 p.m. eastern also on c-span. here on c-span2 we will go live to the heritage foundation for discussion of the future of ukraine. this the second of state has arri
to this aid. difficult steps need to be undertaken to right size gas prices and trim budget deficits, but ukraine should be given a long enough lease so that these necessary reforms don't strangle a nation today dealing with threats to its very existence. second cry me i can't. -- crimea. they have invaded and the very accord they signed guaranteeing crimea's territory. no doubt president putin was sore and no doubt he didn't like the fact that the united states voiced its strong support for the right of a sovereign ukraine to make independent decisions about its future partnerships and no doubt he is infuriated that the ukrainian people are now on their way to getting their way. but this is not a schoolyard. you don't get to push around weaker kids just because you don't like them. this is the 21st century. the reason we belong to organizations like the united nations or the reason we negotiate treaties like the budapest memorandum is because we now understand, after centuries of european war, how destabilizing this kind of behavior is. the irony for russia, of course, is that this
at home than we buy from the rest of the world. we have cut our deficits by more than half since i took office. and for the first time in over a decade business leaders around the world have declared that china's no longer the world's number one place to invest. america is. we have made great progress, but we must do more to rebuild our economy and new foundation for growth and prosperity. i believe that what unites the people of this nation, regardless of race or region or party, young or old, rich or poor, is the simple profound belief in opportunity for all. the notion that if you work hard and take responsibility you can get ahead. that belief has suffered some serious blows. over more than three decades, even before the great recession hit, massive shifts in technology and global competition have eliminated good middle-class jobs and weakened the economic foundations that families depend on. today after four years of economic growth, corporate profits and stock prices have rarely been higher and those at the top have never done better. but average wages have barely budget. inequali
that the deficit is going down. who wouldn't hope for that? we hope for it. it's working. but any time you look at what they're doing, it's all short term. the stuff that's going to eat our lunch is 10,000 people a day turning 65. you've got a system that was set up of social security that you won't even address the insolvency of it for 75 years. health care is on automatic pilot. forget what you call it. it's time to deal with the long-term stuff before interest goes from where it is now to back to historical heights and then watch people grab their socks and run for blocks. >> is there anything you think can be done considering that it probably won't be implemented until after the november 2014 midterms? >> anything that will be done will be done down the road. that's what's wrong with the health care plan. whatever it is is all the correction process is down the road, way ahead. and it's like a dock fix. you're going to do another dock fix and they will run in. you're going to do anything. whatever you do, whether it's tort reform or real estate or whatever is done, the groups will organize
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